[Abstract] The performance of Hong Kong stocks since the Hong Kong stocks has been ranked in an important index of the global index. (Original title: Strision of Grinding, Hong Kong stocks, etc.
Near the end of the year, many institutions banned clearly that the current market sentiment is too pessimistic, and the Hong Kong stocks after oversold have ushered in the layout.
"We have currently put half of the positions in Hong Kong stocks, next year’s main battlefield in Hong Kong stock market." A private fund manager in Shanghai is called. The public fundamental fund is more intuitive. Since the second half of the year, the funds in the Hong Kong stock market have been "departed", and the fund company has spent 40 million yuan to purchase the Hong Kong stock funds.
In many indigenous people, regardless of the valuation, earnings expectations, or AH share premium rates, the Hong Kong stock market has an inversion condition, of which the two major investment directions of the Internet and new energy is worthy of focus. Harbor stocks have shown a 2021 trend of Hong Kong stocks in this year. After the stage of the stage of the point in February, the Hang Seng Index rushed to the point in the point of the way. On November 12, the Hang Seng Index was closed, which was nearly 20% of the previous high.
Overall, the Hang Seng Index has reached% in this year, ranking bottom in important markets in the world.
"In the third quarter of this year, the Hong Kong stock market education, the Internet, real estate, gambling sections, the market risk preferences, some overseas funds panic sells the risk.
Hong Kong stocks information technology, healthcare, optional consumption, etc., long-term expiration of the industry. "Huaxia Harbor Allocation Collection stock initiator refers to the three quarter reports. For the three-quarter, the Hong Kong stocks have weakened, HSBC Jin Xin Fund said that the main reason is that the market is expected to be unexpected.
First of all, this year, since the end of this year, the extrusion of the profit of the middle-reachao manufacturing industry has been squeezed, and the overlay of consumption is not expected, the market is expected to be broken by the high-speed rebound of Hong Kong stock listed companies.
Second, after the high-speed growth in the past few years, the Internet platform-type company traffic dividends are exhausted, and the industry has entered the "deep water area". You need to invest more resources to find the next profit growth point, so the overall growth rate has naturally Falling, which has caused significant decline in the valuation of Internet platform-type companies.
Finally, the Fed TAPER (Reduced Asset Purchase) Policy even hikes the expected increase in the valuation of Hong Kong stocks to a certain degree of suppression. From the perspective of market performance, many industry faucets have fallen sharply in this year in the Hong Kong stock market.
Among them, Alibaba, Haidilao, Jinshan Software, Simmir International fell more than 30%; bubble mart, Jingdong logistics, Australia exceeded more than 20%. The slight trend of Hong Kong stocks directly dragged down the performance of the fund stocks.
As of November 11th, the Shanghai Harbor Fund has fallen by the Shanghai Harbor, and 43 funds fell more than 10%. Hong Kong stocks or "Davis double-thaw" near the end of the end, looking forward to future investment opportunities, many institutions aim at the Hong Kong stock market that has fallen from the "Golden Pit".
Oriental Wealth Choice data shows that the national Cathay Capital Hong Kong stock 50TF, Huiji Fu Zhongjiao Shanghai Port Shenzhen Consumption Faucet Index, Tianhong Zhongjiao Shanghai Port Shenzhen Technology Lead Index, Huaxia Hang Seng Hong Kong Listening Biotechnology ETF, Wanjia The funds of the main investment port stock market in Hong Kong, have been established.
In addition to the new funds frequently "departure", there is also the fund company’s big pen to purchase the Hong Kong stock fund. Wanjia Fund subscribes to 10 million yuan in 30 million yuan in September 28. In October, Wanjia Fund has funded 1 million yuan in the first price on Wanjia Harbor and deep blue chip mix. "I have experience in Harbor stock research and investment. I have experienced three or four-wheeled port stocks up and down fluctuation cycle, which can obviously feel the market heat transformation. At present, Hong Kong stock market is slight, and if it is reversed, the big probability will be very Good return. "Wanjia Huang Harbor deep blue chip mixed fund manager Liu Hongda said. At the same time, foreign fund funds also actively shot. On November 3, the first foreign-owned proprietor fundamentary Belled Fund reported the second fund-Bellede Port, Vision Fund. From the name, this fund mainly invests in port stocks through Hong Kong stocks. The information disclosed by the Hong Kong Stock Exchange has shown that October 29, Belled’s $ 4.9 million in the Hong Kong dollar, the shareholding ratio rose from% to%; on October 26, Belled was present in the field. The average price of Hong Kong dollar is increased by 10,000 stocks, and the shareholding ratio increases from% to%; on October 21, Belles has increased the average price of Merchants Bank H shares in Hong Kong dollar, shareholding ratio. From% to%.
In the view, multiple indicators show that the Harbor stock market has a significant reversal condition.
HSBC Jin Xin Fund said that as of the end of the third quarter, the Hang Seng Index TTM P / E Rate has fallen faded, in a lower position in the world’s major markets. From the net rate of the city, as of the end of the third quarter, the net rate of the Hang Seng Index has fallen faded, below the historical mean of the past 10 years. At the same time, the net rate of Hang Seng Technology Index has fallen faded, and the new low since the index has been introduced. In addition, Huifeng Jinxin Fund believes that the cause of Hong Kong stocks in the beginning of the year is that the market expects Hong Kong stock performance significantly, but the reasons for the return of Hong Kong stocks after the Spring Festival holiday is also the expected weakening.
"Looking forward to 2022, as global supply and demand gradually balanced, high inflation, the performance stress is expected to fall back.
In 2022, Harbed Listed Companies’ profit kinetic energy or will usher in significant repairs, which will become the biggest factor supporting port stock market. "Huifeng Jinxin Fund said.
Liu Hongda said that AH stock premium is also an effective indicator for measuring the value of Hong Kong stock investment. "The indicator represents more than 120 companies listed together in A-share and Hong Kong stocks, and the A-share stock price is relatively premium of Hong Kong stock stocks.
This indicator has a generally 110% to 150% of the fluctuation interval in 6 years after the Hong Kong stock. When it is approaching 150%, it means that everyone is very pessimistic about Hong Kong stocks, and more optimistic about A shares. vice versa.
"Liu Hongda said that the AH stock premium rate has reached 150%, and the more typical opportunity is in the beginning of 2016. The current indicator is around 145%, which means that from the fourth quarter, Hong Kong stocks have a better performance in two quarters or even more than a year. "In the fourth quarter or will become the most painful grill of Hong Kong stocks, but it is also expected to become a new starting point for the next three years.
Currently, we tend to choose short-term fluctuations and limited downlink risks, in exchange for high-long potential risk compensation.
"Huifeng Jinxin Fund said. The two major main line of the Internet and the new energy will appear from the early layout of Hong Kong stocks from the third quarter, the Internet and new energy are two major key plus plates. Guangfa Shanghai Harbor New starting point The stock fund said in the third quarter, the fund increases the Internet sector. Li Yaozhu, the fund manager, believes that the long-term growth space of the Internet sector is still huge, and the growth of its market value is from its profit, it also comes from its reflected social value, large Internet company The medium and long-term will still create value. "In addition, we believe that new energy is a medium and long-term settlement, the fund has increased the photovoltaic industry chain and new energy car sector.
On the one hand, we believe that the energy revolution has begun, and the transformation of energy structure will bring huge opportunities; on the other hand, the cost decline in the photovoltaic industry has brought a decline in long-term price of electricity.
The new energy vehicle industry also has huge development potential. Therefore, we keep the new energy industry optimistic, the position of the industry in this combination will remain unchanged in the medium and long term.
Li Yaozhu said.
"Industry, new energy technology is still continuous upgrade, this sector has a high medium and long-term configuration value, and there is a huge development space in the future.
The Internet sector also has excellent configuration opportunities because Internet companies still have the ability to continue to evolve and innovate, which is the core factors that drive Internet companies.
Li Yaozhu said.
HSBC Jin Xin Fund said that in the investment strategy, the key points will focus on companies with relatively high and stable profitability in the next two years, and build a combination from the bottom, especially the future profit kinetic energy is significantly increased, and the profitability can surpass the market. Expected company. "At the same time, we will consider the avoiding part ‘high expectation’ assets. ‘High expected’ is rational optimistic ingredients, and its risk income is not strongly attractive.
In the current market environment, once it is not reached or even emotional changes, there is a significant possible possible. "Huifeng Jinxin Fund said.
In the segmentation industry, HSBC Jinxin is optimistic about the following directions: the traditional industry, relatively optimistic about telecom operators, construction leads, petrochemical lead, some non-ferrous metals and steel industries; new economic, relatively optimistic consumer service, physical consumption Head, technology innovation enterprises, and some new energy industrial chain companies with competitive advantage in the Hong Kong stock market.